Tom Lee, one of the founders and analysts of Fundstart Global Advisors, who made ambitious predictions about the leading cryptocurrency Bitcoin (BTC), stated that 2021 will be like 2017 after the Bitcoin price rises to $ 29,000 and the real rally will begin in 2021.
The real rise is in 2021
Lee stated that the BTC / USD trading pair reached record levels towards the end of 2016, but the record level everyone had been waiting for came in 2017. Lee expressed that he expects the Bitcoin price to rise by more than 300% in 2021. In addition, Tom Lee claimed that the weakened US dollar was a very important development regarding Bitcoin, and claimed that the leading cryptocurrency could replace the US dollar.
CNBC presenter Brian Kelly made striking statements on the subject, saying that the continuous printing of the US dollar could reduce confidence in the dollar. Stating that the Bitcoin price is designed for such situations, Kelly stated that no central bank wants a strong currency and that Bitcoin assumes a strong currency just in this proportion.
BTC To See $ 30,000 Levels
The leading cryptocurrency Bitcoin hits an all-time high of $ 29,300. The price of Bitcoin futures has risen to $ 29,700. After the big firms like JP Morgan made a statement about the Bitcoin price, there was a serious increase in the BTC price. JPMorgan officials stated that Bitcoin could be treated as gold in 2021. When the performance of the leading crypto currency Bitcoin is analyzed in 2020, it is seen that it has experienced an increase of 227% since the beginning of the year, and gold has taken the second place with an increase of 27%. Gold, which gained a great rise after the coronavirus crisis this year, caught the upward trend in Bitcoin in the long term and managed to equalize the record of Bitcoin. In third place is bond investment with 20%, cash in fourth place with 16% and securities with 15% in the fifth place.
Stock Markets May Go Down
Tom Lee stated that he expects a serious increase in the Bitcoin price, while also explaining the market where he expects a big drop. In Lee’s opinion, the stock markets could drop sharply soon and the price could drop significantly to the all-time record. Lee warned that the fall in the stock markets could also have an impact on the Bitcoin price, albeit in the short term.